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These posts are your gateway to the latest market alpha, top coins to watch and our community updates. It also keeps our busy Patrons happy and informed.
This issue covers:
Latest market outlook
Top altcoins to watch right now
YCC portfolio updates
Market tip of the week
Market Outlook
TLDR: With the Grayscale sell pressure fading, Bitcoin is back on the offensive and managed to reclaim the 42k level. Buyers still dominate despite any sporadic selloffs. This also gives an early signal that the post-halving price action may be up-only.
In my last alpha update, I said that any Bitcoin price under 40k was a buy opportunity. It seems 38k was the best we got before the price action shifted bullish again. Bitcoin now returned above 42k and if it stays there this Monday, this correction is likely over.
Buy opportunities don’t last in a bull market and with those big sell orders from Grayscale out of the way, Bitcoin can go back to its normal self and grind higher. This is also quite indicative of what will happen after the halving event in April.
We know that miners usually sell most of their BTC rewards as soon as they are mined. After April, this source of sell pressure will be cut by half. It’s also unlikely that we will have folks like Grayscale still selling at that time. Meanwhile, buyers appear to multiply.
Every bull market has a moment when the price goes up-only. We’re still due for that in this cycle. Trust me, it will come. A good period to expect it is sometimes after April. For now, watch the price action around 42k in this coming week. If BTC holds there, then the most important targets after that are 48k and 58k.
Top Altcoins to Watch Right Now
If last week I told you to buy discounts, this week we review those juicy plays to see that one in particular reached a 50% profit! That’s even better than I expected.
Lets start with the winners then also look at some new opportunities in the altcoin space.